M&G Real Estate has acquired Riverside Retail Park, Chelmsford for €57.8m (£53m) from British Airways Pension Fund. The retail park incorporates 145,000 ft² of quality retail floor space and is located close to Chelmsford town centre. Retail and leisure occupiers include Sports Direct, Tapi Carpets, Home Sense as well as a Nuffield Health gym, Costa Coffee and McDonald’s.
Sections of the retail park were recently refurbished with full-height glazing enabling a letting to sporting goods retailer Decathlon in spring 2017.
John Duxbury, Head of Retail and Leisure, M&G Real Estate comments: “This latest acquisition fits with our strategy to source high quality retail assets in towns with strong demographics where there is a depth of occupier demand and opportunity for active management. Riverside Retail Park provides an attractive trading proposition with a strong lifestyle and convenience focus, complimenting the existing and improving retail offer in the town centre."